Business & Law Flashcards
Register for the examination through PSI and pay a fee of _____
$79
Which web address should you schedule your test through?
www.psiexams.com
Official scores are mailed by the _____
Board
If you fail, you may retake the examination ____ after the previous examination
30 days
Fees for an intermediate license are
$100
Fees for an unlimited license are
$125
Fees for a limited license are
$75
License applicants and license holders must notify the Board in ____ of a change in address within ____ from the date of change
writing, within 30 days
A limited license has a project limitation up to ____ and an amount of working capital of ____
$750,000; $17,000
An intermediate license has a project limitation up to ____ and ____ amount of working capital
$1,500,000; $75,000
An unlimited license has a project limitation of _____ and an ____ amount of working capital
no restriction; $150,000
Applicants may present a _____ in lieu of demonstrating the required amount of working capital
Surety bond
If the bond is canceled, the surety and applicant must notify the Board immediately. The applicant’s license is ____ if written proof of financial responsibility is not provided within _____ of bond cancelation
suspended; within 30 days
To request a limitation increase, you must complete an increase application form. To be considered for an increase, your license must be ____ and ____
active and renewed
Bond amounts are as follows: Limited license ____, Intermediate license ____, and Unlimited license ____.
$175,000; $500,000; $1,000,000
Licenses expire _____ on December 31.
annually
If more than ____ passes after the license expires then the contractor must go repeat the entire application process from scratch.
4 years
_______ are mailed to licensed contractors by November 30th, once completed these will need to be submitted with required _____.
renewal applications; financial information
Once a complaint is received by the Board, a ________ of the complaint and the charges are sent to the licensee of a general contractor for a response.
written notice
What amount of money is the maximum dollar amount per project that you can build before a contractors license is required?
$39,999
